Crescent State Bank
Crescent State Bank

Crescent State Bank Employee Named to Garner Chamber Board

Julie Clark Elected to Garner Chamber Of Commerce Board

Cary, NC, October 03, 2006 --( Michael G. Carlton, president of Crescent State Bank, a wholly owned subsidiary of Crescent Financial Corporation, (NASDAQ Global MarketSM), has announced that Julie Clark, assistant vice president and community banker at the firm’s Garner office, has been elected to serve a three-year term on the Garner Chamber of Commerce board of directors. Her term on the board will begin Oct. 1.

“I congratulate Julie on this achievement,” said Carlton. “Her dedication to the community through her many volunteer efforts reflects her commitment not only to our company but also to the Garner area in general.”

About Julie Clark:
Julie Clark, a native North Carolinian from Wake County, has over 18 years of successful banking experience and studied business administration at Louisburg Junior College and Wake Technical Community College. As the assistant vice president of Crescent State Bank’s Garner office, Clark manages all lending needs for consumer and small businesses. Clark is active in a number of local civic and community organizations, including: Rotarian with the Garner Mid-Day Rotary, Garner Go-Getters Chapter of Business Network International, Garner Chamber of Commerce, and the Women’s Leadership Initiative for United Way. She is a Hand-In-Hand volunteer, Relay For Life contributor and volunteer, Team Captain for the American Heart Association Heart Walk, and a member of the Wake County Sheriff’s Office Family Support Group. She resides in Garner with her husband Bob and their daughter Reagan.

About Crescent State Bank:
Crescent State Bank is a wholly owned subsidiary of Crescent Financial Corporation. The Bank opened in December 1998 to cater to the financial needs of the communities it serves. The bank has total assets of approximately $471 million, deposits of approximately $370 million, and loans of $360 million as of June 30, 2006, with ten full service banking offices in the communities of Cary (2), Apex, Clayton, Garner, Holly Springs, Sanford, Southern Pines, Raleigh and Pinehurst, North Carolina.


Information in this press release contains "forward-looking statements." These statements involve risks and uncertainties that could cause actual results to differ materially, including without limitation, the effects of future economic conditions, governmental fiscal and monetary policies, legislative and regulatory changes, the risks of changes in interest rates, and the effects of competition. Additional factors that could cause actual results to differ materially are discussed in Crescent Financial Corporation’s recent filings with the Securities and Exchange Commission, including, but not limited to, its Annual Report on Form 10-K and its other periodic reports.

Patty Briguglio
MMI Associates, Inc.
7406-H Chapel Hill Road
Raleigh, NC 27607
(919) 233-6600 • (919) 233-0300 (fax)
Crescent State Bank
Patty Briguglio